Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 2

Cash Advance QBO with Payroll Premium

I just hired my first employee and part of the agreement was a payroll advance. I have searched the topic, and have found multiple posts all stating "go to the gear, select Payroll Settings, and set up a new Deduction/Contribution". Except I don't have that option. I don't know if there is an issue with my account, or if it's because Intuit likes to change the UI every 3 weeks, but I haven't been able to actually find the path to this solution, or frankly to any of the other solutions I've found online. I'm nearing the time to process the first payroll where I need to make a deduction, and all attempts to reach tech support via phone have been fruitless - it's like they don't want to talk to their users. Any help would be greatly appreciated. As a side note, I'm not an accountant, I'm a frustrated engineer trying to do this myself.

1 Comment
QuickBooks Team

Cash Advance QBO with Payroll Premium

Let me show you how to set up cash advance repayment deduction, JMGE.

 

Please follow these steps:

  1. Go to the Workers or Payroll tab and select Employees.
  2. Click the employee's name, then Edit employee.
  3. Under Does this employee have any deductions?, select Add a new deduction.
  4. Select Deduction/contribution > New deduction/contribution Other deductions > Cash Advance Repayment.
  5. Enter description and amount.
  6. Tap OK, then select Done.

Once done, you'll want to edit your payroll accounting preferences. This is where you can see the Expense and Liability accounts affected when you create a paycheck or a deduction. 

 

For more details, I've added these articles:

Keep on posting here if you have more questions. Wishing you all the best!

Need to get in touch?

Contact us